Wednesday, November 17, 2010

Verifone Buys Hypercom

San Jose-based Verifone, a provider of electronic payment products, said this morning that it is acquiring Hypercom, a provider of secure electronic payment products, in a deal worth $485M. VeriFone said Hypercom shareholders will receive a fixed ratio of 0.23 shares of its stock for each Hypercom share, making each share worth approximately $7.32. VeriFone said it was advised by J.P. Morgan Securities and Sullivan & Cromwell in the deal; Hypercom was advised by UBS Securities and DLA Piper US LLP.